What was the total amount of goodwill, net end of year, for Benjamin Franklin Plumbing in 2024?
Benjamin_Franklin_Plumbing Franchise · 2025 FDDAnswer from 2025 FDD Document
d for the years ended December 31, 2023 and 2022.
Estimated amortization expense for the subsequent five years and thereafter is as follows:
| 2025 | $ 31,115 |
|---|---|
| 2026 | 31,041 |
| 2027 | 31,038 |
| 2028 | 30,981 |
| 2029 | 30,680 |
| Thereafter | 207,665 $ 362,520 |
Source: Item 22 — CONTRACTS (FDD pages 87–88)
What This Means (2025 FDD)
According to Benjamin Franklin Plumbing's 2025 Franchise Disclosure Document, the net goodwill at the end of 2024 was $240,023. This figure represents the remaining value of intangible assets acquired by Benjamin Franklin Plumbing, such as brand reputation and customer relationships, after accounting for amortization..
Goodwill is an important asset that reflects the overall financial health and stability of Benjamin Franklin Plumbing. The company amortizes goodwill on a straight-line basis over ten years. This accounting practice means that the initial value of goodwill is gradually reduced over a decade, reflecting its use and consumption in generating revenue.
For a prospective franchisee, understanding the goodwill and its amortization is crucial. It provides insight into how Benjamin Franklin Plumbing manages and values its intangible assets. Monitoring changes in goodwill over time can also indicate the effectiveness of the company's strategies in maintaining and growing its brand value. A significant drop in goodwill could signal potential challenges or impairments in the business.